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National Credit Union Service Organization

EDUCATION 1ST CREDIT UNION

Dec, 31, 2020 — EDUCATION 1ST CREDIT UNION is a federally insured state chartered credit union headquartered in OGDEN, UT with 2 branch locations and about $38.47 million in total assets. Opened 89 years ago in 1932, EDUCATION 1ST CREDIT UNION has about 2,631 members and employs 9 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:EDUCATION 1ST CREDIT UNION
Address:
(Main Office)
1250 COUNTRY HILLS DR
OGDEN, UT 84403-2560
Phone:(801) 392-4877
Fax:(801) 392-4879
Website:http://e1cu.org
Branches:2 branch locations
Members:2,631
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:67127
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1932
Last Audited:Dec 01, 2019
FHLB Member:No
Low Income Designation:No
Assets:$38,466,803
CEO/Manager:Kent M Greenfield
Chairperson:Bruce Christensen

Call Report

  • Commercial Loans
  • Credit Builder
  • Indirect Consumer Loans
  • Interest Only or Payment Option 1st Mortgage Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • In-School Branches

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 5,309,646
TOTAL INVESTMENTS 2,049,832
Loans Held for Sale 0
 
 Real Estate Loans 15,271,889
 Unsecured Loans 2,248,541
 Other Loans 11,403,472
 TOTAL LOANS 28,923,902
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -167,130
 Land And Building 255,163
 Other Fixed Assets 185,964
 NCUSIF Deposit 302,474
 All Other Assets 1,606,952
  TOTAL ASSETS 38,466,803
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 89,390
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 8,697,167
 Regular shares 15,274,064
 All Other Shares & Deposits 10,521,176
  TOTAL SHARES & DEPOSITS 34,492,407
  TOTAL LIABILITIES 34,581,797
 Regular Reserve 1,166,896
 Other Reserves 0
 Undivided Earnings 2,718,110
  TOTAL EQUITY 3,885,006
  TOTAL LIABILITIES, SHARES, & EQUITY 38,466,803
INCOME & EXPENSE  
 Loan Income 1,420,084
 Investment Income 42,456
 Other Income 502,103
 Total Employee Compensation & Benefits 750,974
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 527,721
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 135,388
 Cost of Funds 284,611
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 265,949
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